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Friday, 03 February 2012 12:23

House News Featured

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The state House has approved a bill that gets more information to homeowners about their property taxes. The measure requires county assessors to expand the annual notices sent each spring that show the taxable value of property. If the legislation is enacted, the notices also will disclose the property tax and valuation from the previous year. A mill levy rate will be provided to allow homeowners to calculate an estimated tax for the next year. The house has also approved a set of proposed tax incentives to help lure the developers of the $1.5 billion Tres Amigas SuperStation to relocate to New Mexico. The measure would offer a gross receipts tax deduction for Tres Amigas' trading operations as well as an exemption of certain taxes related to the conversion and transmission of electricity. The measure now goes to the Senate. The project calls for building a hub across 22 square miles in eastern New Mexico to link the nation's three major electrical grids.

Last modified on Friday, 03 February 2012 12:35

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